5 Ways to Rethink Strategic Growth – #4 Get Input from Your Team

Developing and implementing a strategy requires multiple skills and successful growth requires multiple perspectives. Other people in the company have a different level of skillset or expertise that can be beneficial. A leader’s team should be a brain trust or a mastermind forum for decision making that develops a collective understanding of the strategic plan.

When it comes to developing a growth strategy, brainstorm as many ideas a possible and leave no possibilities off the table no matter how crazy they might seem. The discussions among the management team will generate fresh, innovative ideas to help bring the company to the next level. Only a strong idea will stand up to rigorous analysis from multiple perspectives.

Leaders should not shy away from disagreements during these talks. This will actually strengthen the strategic plan because team members will have to address doubts, and convince others of the benefits of their idea. They may even discover what they thought was a brilliant idea is has turned out to be a dud.

Who should be included in these discussions? It is best to bring in a team member from the various functions in an organization including sales, operations, finance, accounting, legal and human resources. Having multiple team members not only encourages different perspectives and voices, but also prevents “silo thinking” where leaders become so focused on one aspect that they might miss out on critical items. It is important to analyze opportunities and risks from multiple perspectives.

Another advantage of having a team involved is that as a leader, you will gain buy-in from others when it comes time to implement the growth strategy. If leaders have taken the time to listen, their management team will be supportive and invested in the process, which will greatly increase company morale and the likelihood for success.

David Braun

David Braun is the founder and CEO of Capstone Strategic and author of Successful Acquisitions: A Proven Plan for Growth. His specialty is helping companies grow through acquisition.

Through consistent focus on this one specialty, David has built up a formidable expertise that has led to an acquisition success rate way beyond the industry average.

David Braun is a sought-after educator who has been teaching senior executives and financial professionals for over 21 years. His live seminars and online webinars are in high demand, and his blog is widely read by M&A professionals, business owners and all who wish to understand the dynamics of growth through company acquisition.

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